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> This is a nice property because it allows the bank to issue blacklists of cheating users That property consequently allows a bank to black list any user, not
by billytetrud 5y ago
> This is a nice property because it allows the bank to issue blacklists of cheating users
That property consequently allows a bank to black list any user, not just cheating users. There are many situations where that can be not so nice. In bitcoin, cheating isn't even feasible. It's better to prevent cheating entirely than to black list cheaters after the fact.
- betterunix2 5y agoDid you actually read what I wrote? The full tracing property means that when double spending is detected, the bank can identify all coins that the cheating user spent. Honest users remain anonymous, which is the basic security property of ecash (and a property that Bitcoin does not achieve). Also, this may seem pedantic, but cheating is entirely feasible in Bitcoin. In Bitcoin the honest users must perform more computation than the attackers, but that means that an attack must be feasible (as the effort of honest users must be feasible for anyone to use the system).